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Transaction fees for currency transactions

 

Currency trading refers to spot trading and does not involve derivatives or leverage. Transactions are divided into Maker and Taker.

 

Maker: You place an order on the order book, and it will not be executed immediately. Makers are the traders that create orders and wait for them to be filled. Makers provide liquidity to an exchange and create a market for a token so its handling fee is cheaper.

 

Taker: Takers are the ones that fill someone else’s orders.Takers remove liquidity by fulfilling open orders on the exchange so its the handling fee is more expensive.

 

In addition, if your level is higher, the handling fee will be lower.

 

From VIP 0 to VIP 9, there are their own Maker / Taker rates as below:

 

In addition, if you hold a certain amount of BNB, you can use BNB to offset the handling fee. BNB is a cryptocurrency issued by Binance. There is a 25% discount when you use BNB to pay the handling fee. For example, assuming that the original handling fee is 0.1%. You use BNB to pay the handling fee, it becomes 0.075%.

 

Handling fees for margin trading

Leveraged trading means that you mortgage your margin to borrow cryptos from Binance to do transactions.

 

The borrow Interest refers to the interest you have to pay when you mortgage the margin. On Binance platform, interest is calculated every hour, and less than one hour is counted as one hour. For example, the hourly interest rate of USDT is 0.0027%, and the interest rate for a day is about 0.065%.

 

In addition, the leveraged interest rate is floating and will be adjusted according to the market.

 

The rest of the transaction fee is based on the currency transaction. Maker is from 0.1000%, and Taker is from 0.1000%.

 

Contract transaction fees: USD-M futures, and Coin-M futures.

 

Contract trading refers to the two trading parties to buy or sell contracts at the exchange. You will not get actual assets. All profits and losses are determined by price fluctuations in the market.

 

In Binance, there are two modes of contract trading, one isUSD-M futures and the other is Coin-M futures.

 

✓USD-M futures: You must use USDT as a margin asset to conduct contract transactions in the USDT contract. The lowest level of Maker / Taker is 0.0200% / 0.0400%, which can also be discounted with BNB, and the discount is 9%.

 

✓Coin-M futures: You have to use BTC or other Binance-supported cryptocurrencies as a margin to conduct contract transactions in the Coin-M futures contract. The lowest level of Maker / Taker is 0.0150% / 0.0400%, but it cannot be discounted with BNB.

 

The calculation of the two handling fees is the same as the currency transaction, which is divided into the maker and the taker.

 

The difference is that the transaction fee for Coin-M futures transactions will be a little cheaper. The cost of contract transaction will be higher than other general transaction, and the risk is also higher.